Kingfa to buy majority stake in Indian auto-compounds maker Hydro S&S

9:56 AM MDT | May 22, 2013 | Natasha Alperowicz

Kingfa Sci & Tech (Guangzhou, China) has entered into an agreement to buy a majority stake in Hydro S&S Industries (Chennai, India), the companies tell the Bombay Stock Exchange. The acquisition of a 66.5% stake will cost 106.4 million Indian rupees ($1.9 million). Kingfa has also offered to buy 26% in Hydro from public shareholders for a total of Rs71.1 million, which would give Kingfa a 92.5% stake in Hydro. Hydro manufactures reinforced polypropylene compounds, thermoplastic elastomers, and fiber-reinforced composites. It sells its...